A group of California tech startups invested $1 billion in the construction of a new residential building, bringing the total amount of cash invested in the venture to more than $1.6 billion.
Acorns, which is backed by Founders Fund, invested in an unnamed tech startup that is looking to build a $100 million residential building.
Acorn is the largest publicly traded publicly traded real estate company in the United States.
The $1 million investment will be used to build and finance the $1,000 million residential complex.
Acernas CEO Mark Pincus said the $100M investment in the $10 million complex will be the largest investment ever in a residential project in California.
The company is focused on building a residential campus for young people with disabilities in the Bay Area.
It’s also aiming to bring a new generation of high-tech jobs and products to communities.
Acros first investment in a real estate project was in 2015.
Acrons newest investment in residential investment was announced earlier this month.
Acos first investment, which was announced in March, was in a new tech startup called Smart Investment, which aims to create affordable, high-quality, high value homes.
Acronys investment will go toward construction of the $25 million $100K residential complex, which will be completed by the end of 2019.
It will also be used for other projects and services.